$PAXG
$PAXG Update: Deep Dive into the Current Dump! 📉
Post Content:
The gold-pegged token PAXG/USDT is currently facing heavy selling pressure on the 1H timeframe. Here is what the charts are telling us:
🔍 Technical Breakdown:
Price Action: We've seen a sharp decline of -2.41%, dropping from the $4,580 resistance zone down to the current $4,463 level.
Oversold RSI: The RSI (10) has hit 21.04. This is deep in the Oversold territory, suggesting that the selling might be exhausted soon and a relief bounce could be around the corner.
MACD & SAR: Both remain bearish. The Parabolic SAR dots are above the price, and the MACD histogram is expanding downward, showing that the bears are still in control for now.
📍 Key Levels to Watch:
Immediate Support: $4,452 (24h Low)
Immediate Resistance: $4,520 (Middle Bollinger Band)
Major Resistance: $4,587
⚠️ Trading Strategy:
The market is currently "hugging" the lower Bollinger Band. While the RSI suggests a bounce is coming, it is risky to "catch the falling knife." Wait for a bullish reversal candle or for the RSI to cross back above 30 before considering an entry. Always use a tight Stop-Loss!
#BinanceSquare Family, what are your thoughts? Is this a "Buy the Dip" moment for Gold or will it slide further? 🚀👇
#PAXG #Gold #CryptoAnalysis #TechnicalAnalysis #TradingSignals #Oversold